In today’s world, our lives are increasingly tied to the digital world. From bank accounts and cloud storage to social media profiles and email accounts, digital assets now make up a significant portion of a person’s legacy. But what happens to those digital accounts when you die? And how can you plan ahead so your loved ones aren’t left in the dark?
This article explores what Florida residents need to know about digital assets after death—and the estate planning steps you can take now to ensure they’re handled properly.
Understanding Digital Assets
Digital assets can include:
- Financial accounts (e.g., PayPal, Venmo, cryptocurrency wallets)
- Email accounts (e.g., Gmail, Yahoo)
- Social media profiles (e.g., Facebook, Instagram, LinkedIn)
- Photo and file storage (e.g., iCloud, Dropbox, Google Drive)
- Online subscriptions (e.g., Netflix, Amazon Prime, Spotify)
- Domain names, websites, or online businesses
These accounts are often protected by passwords, two-factor authentication, and privacy laws, making access difficult for family members after death.
Florida Law and Digital Assets
Florida has adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA). Under this law:
- You can give legal authority to someone (such as your personal representative or trustee) to access your digital assets after your death.
- Online tools take precedence. Some platforms, like Google and Facebook, allow you to name a legacy contact or specify what happens to your account after death. These tools override directions in your will or trust.
- Without clear authority, access may be denied. Most companies won’t share information with your family unless the law specifically permits it, or you’ve given written permission in advance.
How to Plan for Your Digital Assets
1. Take Inventory
Start by listing all your digital accounts and where to find them. Include login URLs, email addresses, and a general description (but don’t include passwords in your estate planning documents).
2. Use a Password Manager
Consider using a secure password manager like LastPass or 1Password that can be accessed by a trusted individual upon your death or incapacity.
3. Name a Digital Executor
In Florida, you can authorize your personal representative, trustee, or another trusted person to manage your digital assets. This should be done explicitly in your will or trust and with language that complies with RUFADAA.
4. Check for Online Tools
Go through each major digital platform and activate any legacy or inactive account manager tools they offer. These are legally binding under Florida law.
5. Write Out Instructions
Even if legally binding instructions are in place, it’s helpful to leave personal wishes: Should your Facebook be memorialized or deleted? Who should access your cloud-stored photos? Should your email be deleted or reviewed?
Common Mistakes to Avoid
- Forgetting to update digital access when you change passwords or add new accounts.
- Assuming loved ones will "figure it out." They may not even know your accounts exist or be able to legally access them.
- Relying on paper lists of passwords without a clear plan or authority in place.
Conclusion
Digital assets are just as important as physical ones in today’s estate plans. Without proper planning, your loved ones may lose access to sentimental photos, financial accounts, or important information.
If you have questions about how to incorporate digital assets into your estate plan, contact Bart Scovill, PLC. We are experienced in helping Florida residents create comprehensive, forward-thinking estate plans. https://scovills.com/?p=2511
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